Coolum Beach, Queensland

Opportunity Knocks

SOLD

Business Description

Set amongst tropical gardens and one street back from the main road, this resort has a quiet, pleasant family atmosphere, yet is only a 2-minute stroll to all that Coolum has to offer.

-3 bed managers residence with private patio and fenced yard area.
-19 years remaining on agreements with solid BC salary of $32k and a easycare complex to look after.
-Net income of circa $91k managers cleans or $77k with contract cleaners.
-This complex can be run by one person plus some assistance with unit cleaning as required.

Opportunity knocks to take the complex to the next level. Ill health is forcing owners to sell at very realistic price offering an opportunity for new managers to re-market and refresh. Exclusively listed by Resort Management Sales.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $91,052 Remuneration / Body Corp Salary: $32,100

Managers Unit

Value of Managers Apartment: $395,000Bedrooms: 3Bathrooms: 1Car Spaces: 1Office: On TitlePets OK: No

The managers residence offers 3 good sized bedrooms, lock up garage, private fenced patio and grassed garden area with separate external access along with a detached office on managers title.

Complex Information

Complex Type: HolidayTotal Units in Complex: 18Total Units in Letting Pool: 10Owner Occupy Units: 5Outside Agent Units: 2Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 19 yearsPool: YesSpa: YesTennis Court: YesBBQ Area: YesWIFI: Yes

Marketing Agent

Lindsay Petty

0407 02....

Resort Management Sales

Key Investment Insights

1. The resort is located in a prime location, only a short walk from the main road and all the amenities of Coolum.
2. The complex has a quiet and family-friendly atmosphere, making it an attractive option for holidaymakers.
3. The managers residence is a 3 bedroom unit with a private patio and fenced yard, providing a comfortable living space for the managers.
4. There are 19 years remaining on the agreements, providing a stable and long-term opportunity for the new managers.
5. The complex has a solid body corporate salary of $32,000, providing a steady income for the managers.
6. The net income of the complex is approximately $91,000 with managers cleaning, or $77,000 with contract cleaners, making it a profitable business.
7. The complex can be easily managed by one person, with additional assistance for unit cleaning as needed.
8. The current owners are selling due to ill health, providing an opportunity for new managers to re-market and refresh the complex.
9. The managers residence is valued at $395,000 and includes a detached office on managers title.
10. The complex is a holiday accommodation type with 18 units in total, with 10 units in the letting pool and 5 owner-occupied units.
11. The complex offers a range of amenities such as a pool, spa, tennis court, BBQ area, and WIFI, making it an attractive option for holidaymakers.
12. The complex is under an accommodation agreement module with a term of 25 years, with 19 years remaining.

Management Rights Multiplier: 2.09
ROI Estimate: 47.92%